HC Deb 29 April 1968 vol 763 c126W
Mr. Dickens

asked the Chancellor of the Exchequer if he will estimate the yield to the public revenue of exempting all estates of £40,000 and below from Estate Duty and making fortunes above that figure subject to duty at 100 per cent.

Mr. Harold Lever

The effect on the Exchequer might be somewhere between an additional yield of £250 million if the present distribution of wealth was unaffected and a cost of similar size if most fortunes in excess of £40,000 were transferred to younger people. Whether the action proposed would lead to a gain or loss in the total duty collected and of what size is a matter for conjecture rather than estimation.